Fund Description

The fund, under normal circumstances, invests at least 80% of net assets (plus borrowings for investment purposes) in equity securities, including through derivatives or other investment companies that invest primarily in equities. It focuses on stocks of companies domiciled in developed foreign countries, principally traded in Japanese, European, Pacific and Australian markets or traded in U.S. markets, and may include common stocks and securities convertible into common stocks. It may also invest to a limited extent in emerging markets, other investment companies, and below-investment-grade convertible bonds. The fund may use derivatives, including currency forwards, and is permitted to short-sell. It uses a manager-of-managers structure with subadvisor selection, monitoring, and allocation overseen by UBS AM.